Florida hurricane insurance preparation was effective, say officials

Florida hurricane insurance rates

The state has said that insurers were responsive to their customers because they were ready. State officials have said that Florida hurricane insurance companies have been responsive to customers. This responsiveness to the damage from two hurricanes this year was the result of preparation. Those hurricanes caused hundreds of millions of damage in that state alone. These were the conclusions shared by the Florida Division of Consumer Services. That division received only 375 calls regarding the way Florida hurricane insurance claims were handled. When taking into consideration that Hurricane Matthew…

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Hurricane insurance losses from Hermine won’t hurt the industry

hurricane season insurance losses storm

The storm that made landfall in Florida on Friday certainly left damage behind, but nowhere near the worst. When Hermine made landfall in Florida, it left the first hurricane insurance losses seen in the state since 2005. While there were concerns that it would strengthen significantly, but fortunately the worst case didn’t happen. Hurricane Hermine left hundreds of thousands without power while flooding certain areas. Industry analysts have taken a look at the initial damages and have predicted that hurricane insurance losses won’t be crippling to property insurers. While the…

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